Competing on the global stage: The Shadow Government’s business and trade priorities

The Shadow Secretary of State for Business and Trade joined Canning House for a roundtable in which he explained his vision for growth through exports and strengthened trade deals.

Andrew Griffith MP explained that his mission is to grow the economy, and trade is one of the crucial levers a Conservative government would use to boost the economy. Griffith stressed that the UK is no longer as prosperous as it once was. To rectify this, the Conservative Party have 5 priorities: cheaper energy, lower and simpler taxes, cutting red tape, a flexible labour market, and supporting risk takers. From a trade perspective, all five of these are relevant.

The speaker made it clear that the UK should be competing on the world stage. To give the UK an international edge, a Conservative government would prioritise financial and professional services. Simultaneously, he argued that the UK must align itself with growth markets, including Latin America and Africa. This marks a departure from the current government’s attempts to get closer to the EU.

Griffith noted the successes of the CPTPP under the current government but stressed the need to increase business engagement with the deal, ensuring it is used to full effect. He said that any government he was part of would pursue a Mercosur trade deal, similar to that signed by the EU this year. To help the UK secure more trade deals, he would introduce a policy that half of all newly appointed ambassadors would be business figures. At the same time, the Conservatives want to increase the number of Department for Business and Trade staff on the ground, including Trade Commissioners.

This roundtable offered participants a view of the Conservative Party’s vision for government, particularly on the matters of Business and Trade. Canning House extends its thanks to Andrew Griffith MP for joining us.